Business
TrustBIX Inc. Announces Completion of Second Tranche of Previously Announced Private Placement
Edmonton, Alberta--(Newsfile Corp. - February 24, 2023) - TrustBIX Inc. (TSXV: TBIX) (OTCQB: TBIX...
About this update from Trustbix, Inc.
[{"type":"text","content":"TrustBIX Inc. Announces Completion of Second Tranche of Previously Announced Private PlacementEdmonton, Alberta--(Newsfile Corp. - February 24, 2023) - TrustBIX Inc. (TSXV: TBIX) (OTCQB: TBIXF) (\"TrustBIX\" or the \"Company\") is pleased to announce the closing of the second tranche (the \"Second Tranche\") of the non-brokered private placement financing (\"Private Placement\") previously announced on January 31, 2023 for up to 14,285,714 common shares in the capital of the Company (\"Common Shares\") at a price of $0.035 per Common Share for gross proceeds of up to $500,000.In connection with the Second Tranche, TrustBIX has closed subscriptions of 4,614,282 Common Shares for gross proceeds of $161,500 which is in addition to the prior closing of the initial tranche of $250,000.The securities issued under the Private Placement are subject to a four-month hold period from the time of closing of the Private Placement. No finder's fees or other compensation was paid in connection with the Private Placement.\"TrustBIX will use the Private Placement funds for working capital and growing our business,\" said Hubert Lau, CEO.About TrustBIX (TSXV: TBIX) (OTCQB: TBIXF)As an innovative leader, TrustBIX provides agri-food traceability and chain of custody value solutions. The Company's goal is to create a world where we trust more, waste less and reward sustainable behaviour by addressing consumer and agri-food business demands. The proprietary platform, BIX (Business InfoXchange system), is designed to create trust without compromising privacy through innovative, blockchain-derived use of technology and data. By leveraging BIX and its unique use of incentive solutions, TrustBIX delivers independent validation of food provenance and sustainable production practices within the supply chain - Gate to Plate®. ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in Canada, United States, Mexico and China, such as Auction Master Pro, Market Master, Feedlot Solutions and pork grading probes.The Company's Insight technology offers an edge-to-enterprise supply chain solution that brings asset situational awareness to dealers, equipment fleets, and civil construction managers. The platform allows for the tracking, protection, and identification of movem...